South African Actuaries Development Program (SAADP) is a non-profit organization established in 2003 because there was a shortage of Actuaries in South Africa. Actuaries have an important role in solving problems for the inflow of money in the economy.
They use mathematical and statistical skills to manage programs to control financial risks to various entities. SAADP encourages the development and retention of skilled actuaries in South Africa by providing financial help to those talented individuals who have a good academic record and are interested to study Actuarial Science.
Closing date of the bursary
The deadline is 31 August 2021
About This Training Programme
South African Actuaries Development Program (SAADP) not only offers monetary expenses the SAADP provides mentorship, tutorials, social and academic support by managers that are part of the three partnered Universities.
Bursaries awarded depend on the funds available, and are renewed every year based upon the academic performance of the student who needs to maintain the required academic achievements.
- The University of Cape Town offers a degree in the Commerce faculty: BBuSci (Actuarial Science), and BCom (Actuarial Science)
- Wits University offers a degree in commerce (BEconSci) or science faculty (BSc)
- The University of Pretoria offers a degree in BSc (Actuarial Science)
What Does the Bursary Cover?
- Textbook fees
- Living expenses
Who Can Apply?
Matric (Grade 12) Students who have applied for their first year of study in the Actuarial Science qualifications, and University students currently studying Actuarial Science qualifications.
There is a screening process where shortlisted candidates will be interviewed by a selection committee, which will be held at the Wits University. Decisions made by the Selection Committee are final, successful and unsuccessful candidates will be notified by SMS or by email.
Minimum Requirements for Matrics:
- South African Citizens who have a background of being previously disadvantaged
- Must be interested in Actuarial studies and have applied to a SAADP University
- Willing to study at the University of Witwatersrand, University of Cape Town, or the University of Pretoria
- Must achieve at least 80% in Maths
- Must achieve at least 70% in Physical Science and English
- Good academic performance in Grade 11 and in Grade 12 final exams
Minimum Requirements for University Students:
- South African Citizen
- Currently studying full time in Actuarial Science qualification
- Obtained a good academic performance in the first year, second year, and third year of studies
- Students must belong to one of the SAADP partnered institutions (Wits, UP, UTC)
- Students from other Universities can apply provided they are eligible for the bursary and have been accepted to study in one of the SAADP partnered institutions
Matric (Grade 12) students need to submit the following documents with the application form:
- Certified copy of ID Document
- Certified copy of Grade 11 year-end results and Grade 12 mid-year results
- Passport-sized photograph
- National Benchmark Test (NBT) results and submitted by Fax: 011 486 1859 / 086 635 2372
University students need to submit a certified copy of their ID, and the latest academic record with the application form.
Students should apply to all SAADP partnered Universities to increase their chance of being awarded a Bursary.
How to Apply?
To apply for the SAADP Bursary you can access the application form as per the links below.
Application for Matric Students
Application for University Students
The application form must be correctly completed with all required documentation and sent by one of the below:
Email to: firstname.lastname@example.org (Subject line: SAADP Bursary Application – Full Name)
Courier or Post: SAADP Bursary Application, PO Box 2460, Houghton, 2041
Hand-delivered: SAADP Bursary Application, 60 Riviera Road, Office 115 Killarney Mall Office Towers, Killarney, Johannesburg, 2000
Only one application per person
SAADP will acknowledge receipt of the application by SMS or email.
For further information, or enquiries you can contact SAADP directly or view their website.
60 Riviera Road
Office 115 Killarney Mall Office Towers
Tel: +27 11-642-2202
Fax: 086 635 2372